04-04-2020, 10:28 AM
Interested Personnel Transaction: Best World
(Click for Q4 result)
(click for Q3 result)
In Q3, only Audrey is reported as Interested Personnel Transaction.
Q4, added Lu Pin and Beng Choon.
Audrey Koh Karmen (1)
Pek Lu Pin (2)
Huan Beng Choon (3)
Note (1): Spouse of Huang Ban Chin
Note (2): Daughter of Doreen Tan Nee Moi
Note (3): Brother of Dora Hoan Beng Mui
Interim update
(click for Interim update 22 Mar 2020)
point #8 (a)
Vicstar Lifestyle Pte Ltd (“Vicstar”) – January 2010 to December 2011. This company is
owned by two individual shareholders who are the spouses of two top Singapore
distributors. BWI sold directly to Vicstar from early 2010 but this ceased in December
2011. We were informed that Vicstar continued to work with the import agents to develop
the China market during the Export Model period. In particular, Vicstar maintained the
China customer database, facilitated the calculation of commissions due to distributors,
and helped organise trainings and events for China distributors.
point #24
BWI Management has informed that the Franchise Model as currently structured is in
compliance with local China regulations and the Franchise License. We are unable to comment
on the legality of the structure of the Franchise Model under Chinese law and whether it falls
within the scope of the Franchise License. In this regard, we have recommended that the Board
obtain the advice of an independent and suitably qualified Chinese law expert on these issues,
taking into account our findings. We understand that BWI Management has since engaged an
independent Chinese law firm to provide a legal opinion on the legality of the Group’s present
franchise model sales and distribution business under the Franchise Model.
(Click for Q4 result)
(click for Q3 result)
In Q3, only Audrey is reported as Interested Personnel Transaction.
Q4, added Lu Pin and Beng Choon.
Audrey Koh Karmen (1)
Pek Lu Pin (2)
Huan Beng Choon (3)
Note (1): Spouse of Huang Ban Chin
Note (2): Daughter of Doreen Tan Nee Moi
Note (3): Brother of Dora Hoan Beng Mui
Interim update
(click for Interim update 22 Mar 2020)
point #8 (a)
Vicstar Lifestyle Pte Ltd (“Vicstar”) – January 2010 to December 2011. This company is
owned by two individual shareholders who are the spouses of two top Singapore
distributors. BWI sold directly to Vicstar from early 2010 but this ceased in December
2011. We were informed that Vicstar continued to work with the import agents to develop
the China market during the Export Model period. In particular, Vicstar maintained the
China customer database, facilitated the calculation of commissions due to distributors,
and helped organise trainings and events for China distributors.
point #24
BWI Management has informed that the Franchise Model as currently structured is in
compliance with local China regulations and the Franchise License. We are unable to comment
on the legality of the structure of the Franchise Model under Chinese law and whether it falls
within the scope of the Franchise License. In this regard, we have recommended that the Board
obtain the advice of an independent and suitably qualified Chinese law expert on these issues,
taking into account our findings. We understand that BWI Management has since engaged an
independent Chinese law firm to provide a legal opinion on the legality of the Group’s present
franchise model sales and distribution business under the Franchise Model.